Kotak Bank recommends two internal candidates for CEO post: Report
Kotak Bank has proposed Executive Directors Anup Saha and Paritosh Kashyap for the top job
- Aug 31, 2026,
- Updated Aug 31, 2026 6:05 PM IST
Kotak Mahindra Bank has recommended two internal candidates to the Reserve Bank of India to succeed Chief Executive Ashok Vaswani when his term ends next year, Reuters reported on Monday, citing sources.
The private-sector lender has proposed Executive Directors Anup Saha and Paritosh Kashyap for the top job, the report said.
The recommendations mark the first step in the succession process for Vaswani, who has said he will not seek reappointment when his term ends on December 31, 2026.
The banking rules require lenders to recommend at least two candidates for the CEO position.
The RBI can approve one of the names or ask the bank to consider other candidates if it finds the proposed names unsuitable.
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Who Are The Candidates?
Saha joined Kotak Mahindra Bank in January after leading non-bank lender Bajaj Finance. He currently oversees the retail banking business at Kotak.
Kashyap is a Kotak veteran and heads the bank’s wholesale banking business.
Vaswani, a former Barclays and Citigroup banker, took over as CEO on January 1, 2024. He succeeded founder Uday Kotak after more than two decades at the helm.
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The Kotak family remains the bank's largest shareholder, with a 26% stake.
Under Vaswani, the bank had set its sights on becoming India’s third-largest private lender by after-tax profit. The next CEO is expected to build on that growth momentum.
Shares of Kotak Mahindra Bank gained 5% over the last five trading sessions.
Kotak Mahindra Bank has recommended two internal candidates to the Reserve Bank of India to succeed Chief Executive Ashok Vaswani when his term ends next year, Reuters reported on Monday, citing sources.
The private-sector lender has proposed Executive Directors Anup Saha and Paritosh Kashyap for the top job, the report said.
The recommendations mark the first step in the succession process for Vaswani, who has said he will not seek reappointment when his term ends on December 31, 2026.
The banking rules require lenders to recommend at least two candidates for the CEO position.
The RBI can approve one of the names or ask the bank to consider other candidates if it finds the proposed names unsuitable.
Don't Miss: Why Kotak is struggling to find midcap stock ideas
Who Are The Candidates?
Saha joined Kotak Mahindra Bank in January after leading non-bank lender Bajaj Finance. He currently oversees the retail banking business at Kotak.
Kashyap is a Kotak veteran and heads the bank’s wholesale banking business.
Vaswani, a former Barclays and Citigroup banker, took over as CEO on January 1, 2024. He succeeded founder Uday Kotak after more than two decades at the helm.
Must Read: What will it take for a sustained bull run on Dalal Street? Kotak Life CIO weighs in
The Kotak family remains the bank's largest shareholder, with a 26% stake.
Under Vaswani, the bank had set its sights on becoming India’s third-largest private lender by after-tax profit. The next CEO is expected to build on that growth momentum.
Shares of Kotak Mahindra Bank gained 5% over the last five trading sessions.